220,264 Shares in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA) Bought by Driehaus Capital Management LLC

Driehaus Capital Management LLC bought a new position in Olema Pharmaceuticals, Inc. (NASDAQ:OLMA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 220,264 shares of the company's stock, valued at approximately $1,284,000. Driehaus Capital Management LLC owned approximately 0.38% of Olema Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of OLMA. JPMorgan Chase & Co. boosted its stake in Olema Pharmaceuticals by 658.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 181,032 shares of the company's stock worth $2,162,000 after purchasing an additional 157,171 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Olema Pharmaceuticals by 435.0% in the fourth quarter. Renaissance Technologies LLC now owns 157,300 shares of the company's stock worth $917,000 after buying an additional 127,900 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of Olema Pharmaceuticals during the fourth quarter valued at approximately $510,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Olema Pharmaceuticals by 80.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 212,246 shares of the company's stock valued at $1,237,000 after buying an additional 94,651 shares during the last quarter. Finally, Boothbay Fund Management LLC increased its position in shares of Olema Pharmaceuticals by 10.8% during the fourth quarter. Boothbay Fund Management LLC now owns 31,226 shares of the company's stock valued at $182,000 after acquiring an additional 3,056 shares in the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on OLMA shares. HC Wainwright reiterated a "buy" rating and set a $30.00 target price on shares of Olema Pharmaceuticals in a research note on Monday, April 28th. JPMorgan Chase & Co. dropped their price objective on Olema Pharmaceuticals from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $25.00 price objective (down from $30.00) on shares of Olema Pharmaceuticals in a report on Wednesday, March 19th.

Olema Pharmaceuticals Trading Down 1.7%

OLMA stock traded down $0.08 on Tuesday, hitting $4.68. The company had a trading volume of 527,963 shares, compared to its average volume of 868,523. Olema Pharmaceuticals, Inc. has a 12-month low of $2.86 and a 12-month high of $16.62. The stock has a market cap of $319.93 million, a price-to-earnings ratio of -2.14 and a beta of 2.03. The stock's 50-day simple moving average is $4.28 and its 200 day simple moving average is $6.23.

Olema Pharmaceuticals (NASDAQ:OLMA - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.52) by $0.16. Research analysts forecast that Olema Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.

About Olema Pharmaceuticals

Olema Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapies for women's cancers. Its lead product candidate is OP-1250, an estrogen receptor (ER) antagonist and a selective ER degrader, which is in Phase 3 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive, human epidermal growth factor receptor 2-negative breast cancer; and OP-1250 combine with CDK4/6 inhibitors palbociclib, ribociclib, and alpelisib in Phase 1/2 clinical trial for the treatment of recurrent, locally advanced, or metastatic estrogen receptor-positive human epidermal growth factor receptor 2-negative breast cancer, as well as develops OPERA-01 for the of ER+/HER2- advanced or metastatic breast cancer.